178,485 Shares in MaxLinear, Inc. (NASDAQ:MXL) Purchased by CloudAlpha Capital Management Limited Hong Kong

CloudAlpha Capital Management Limited Hong Kong bought a new position in MaxLinear, Inc. (NASDAQ:MXL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 178,485 shares of the semiconductor company’s stock, valued at approximately $2,584,000. MaxLinear comprises 0.2% of CloudAlpha Capital Management Limited Hong Kong’s portfolio, making the stock its 28th biggest holding. CloudAlpha Capital Management Limited Hong Kong owned approximately 0.21% of MaxLinear as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of MaxLinear by 5.8% in the first quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock worth $228,779,000 after acquiring an additional 667,550 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of MaxLinear by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock valued at $51,064,000 after buying an additional 128,585 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of MaxLinear by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock valued at $41,714,000 after buying an additional 192,021 shares during the period. Hood River Capital Management LLC acquired a new position in shares of MaxLinear in the second quarter valued at approximately $24,184,000. Finally, Millennium Management LLC increased its stake in shares of MaxLinear by 307.9% in the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after buying an additional 788,558 shares during the period. Institutional investors own 90.79% of the company’s stock.

MaxLinear Price Performance

Shares of NASDAQ:MXL opened at $14.88 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $14.25 and its two-hundred day simple moving average is $16.49. MaxLinear, Inc. has a 1-year low of $11.08 and a 1-year high of $26.59. The stock has a market cap of $1.26 billion, a PE ratio of -5.47 and a beta of 1.85.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.04). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. During the same quarter last year, the business posted ($0.02) earnings per share. MaxLinear’s revenue was down 40.2% on a year-over-year basis. As a group, analysts forecast that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Northland Securities decreased their target price on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Benchmark reissued a “buy” rating and set a $22.00 target price on shares of MaxLinear in a research report on Thursday, October 24th. Craig Hallum decreased their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, MaxLinear has a consensus rating of “Hold” and an average target price of $23.86.

Insider Activity

In related news, VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the sale, the vice president now owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.60% of the company’s stock.

About MaxLinear

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.